Foxconn Subsidiary To Manufacture Blockchain Smartphone From Sirin Labs
Switzerland-based Sirin Labs has chosen FIH Mobile, a subsidiary of Foxconn, to oversee the design and production of its blockchain smartphone Finney.
In December 2017, Sirin Labs raised $157 million in its initial coin offering (ICO). The company said at the time that the funds would be used for the development of the Finney family of consumer devices, which will include a smartphone and all-in-one PC.
FIH Mobile provides integrated manufacturing services for the handset industry worldwide. It operates through three segments: Asia, Europe, and America. The company designs, manufactures, assembles, imports, exports, and distributes handsets, as well as offers repair services. It is also involved in research and development and project management activities.
Under the agreement, FIH Mobile will lead the original design and manufacturing of the Finney smartphone, with Sirin Labs leading the development of the cold storage wallet hardware and the Sirin OS. Following the co-development, FIH Mobile will manufacture the Finney devices in its facilities.
The smartphone will be designed to enable users to securely store and use cryptocurrencies. It will allow owners to shop on crypto-friendly websites like Overstock.com and Expedia, converting cash into specialized tokens if needed. Sirin said that users may eventually be able to forgo complex addresses and long private keys, and instead verify their identities on token-related services with an iris scan, fingerprints, or even a simple password.
“Bringing the first blockchain-based smartphone to market obligates us to partner with the very best in the market, Sirin Labs CEO and founder Moshe Hogeg said. “FIH Mobile was ultimately the clear and natural partner for us.”
